Describing its decision as coming after a “thorough re-assessment of near-term market conditions,” JLR said the economic landscape did not “currently” support the introduction of a supercar such as the C-X75.

Hybrid technologies, carbon composite materials and design solutions for the C-X75 in association with Williams Advanced Engineering, will be used in other areas of R&D, future products and next-generation engineering for the Jaguar and Land Rover brands, said the UK automaker.

Five C-X75 prototypes will be finalised and continue to undergo a programme of research and development evaluation and testing.

JLR and its project partners – especially Williams – will remain in consultation and are looking at ways to expand co-operation and technical development.

“Project C-X75 has already broken many new barriers in terms of innovation and advanced technologies,” said Jaguar global brand director, Adrian Hallmark.

“We have achieved an incredible amount and will continue to test and develop these technologies, which are highly relevant to JLR’s sustainable future.

“We remain committed to significant on-going new product investment – GBP2bn (US$3.23bn) in this financial year – which will continue to drive the expansion of the JLR business.”

JLR added to just-auto it would not be making anyone further available for comment